DooPrime vs Eightcap Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare DooPrime vs Eightcap.
Can I trust DooPrime?
DooPrime has a trust score of 84, giving it a "Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust Eightcap?
Eightcap has a trust score of 87, giving it a "Trusted" trust label.
Is DooPrime a good broker?
DooPrime is primarily a MetaTrader broker that offers both MT4 and MT5, along with several copy trading platforms and its own In Trade platform. DooPrime is regulated in the U.K, Vanuatu, and Mauritius, and provides nearly 10,000 trading symbols. That said, we were unable to obtain any average spread data for DooPrime when evaulating trading costs.
Is Eightcap a good broker?
Eightcap is an up and coming broker that boasts a large range of cryptocurrency CFDs, alongside several MetaTrader plugins and related tools. That said, it's offering is otherwise limited in terms of the number of symbols you can trade, and the scope of its educational and reserach materials available could stand to improve.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. DooPrime is Hong Kong (SFC Authorised) and United Kingdom (U.K.) (FCA Authorised), while Eightcap is Australia (ASIC Authorised) and United Kingdom (U.K.) (FCA Authorised).. Neither have Canada (SRO Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, DooPrime is none, while Eightcap is Cyprus (CySEC Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses DooPrime is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised), while Eightcap is Bahamas (SCB Authorised) and Vanuatu (VFSC Authorised).. Neither have Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Cayman Islands (CIMA Authorised).
Which broker offers more trading platforms?
For trading platforms DooPrime supports a Proprietary Platform and Desktop Platform (Windows), whereas Eightcap supports a Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does DooPrime offer MetaTrader? Does Eightcap offer MetaTrader?
Both DooPrime and Eightcap offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do DooPrime and Eightcap differ in terms of minimum deposit? What about average spreads and funding options?
DooPrime requires a minimum deposit of $100, while Eightcap requires a minimum deposit of $100. From our testing we found DooPrime offers spreads of N/A, while Eightcap offers spreads of 1.0. Both DooPrime and Eightcap offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits.
Which brokers offers more tradeable asset classes, DooPrime or Eightcap?
DooPrime offers a more diverse selection of investment options than Eightcap allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).. Neither have Spread Betting Looking at total tradeable symbols, DooPrime has 10000, compared to 736 from Eightcap.
Can I trade cryptocurrency with DooPrime or Eightcap?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither DooPrime nor Eightcap allow you to trade physical cryptocurrencies.
Who offers more research tools, DooPrime or Eightcap?
In terms of research and research tools DooPrime gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison Eightcap has the tools listed here: Daily Market Commentary and Social Trading / Copy Trading.. Neither have Autochartist
Overall winner: DooPrime
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.